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This essay examines the system of interest - bearing silver, an important financial and economic institution during the Kangxi reign. Before the Kangxi reign the Ministry of Revenue managed the system of interest - bearing silver. During the Kangxi reign the system of interest - bearing went through two phases of development. In the first phase from the initial years of his reign to the 56th year, Kangxi shifted responsibility for the system from the Ministry of Revenue to the Neiwufu (the authority responsib1e for imperial affairs) . The army of the Eight Banners and some of their troops also set up the Gong Ku (this body loaned Qing government silver) and the Gang Shan Ku (similar to the Gong Ku, but its interest rate was lower) and En Shang (which award the interest earned on loans to Imperial relatives). In the second phase from the 56th year of the Kangxi reign until his death, Kangxi abolished the Gong Ku, and limited the scope of system of interest - bearing silver due to corruption.
This essay examines the system of interest - bearing silver, an important financial and economic institution during the Kangxi reign. Before the Kangxi reign the Ministry of Revenue managed the system of interest - bearing silver. During the Kangxi reign the system of interest - In the first phase from the initial years of his reign to the 56th year, Kangxi shifted responsibility for the system from the Ministry of Revenue to the Neiwufu (the authority responsibi for imperial affairs). The army of the Eight Banners and some of their troops also set up the Gong Ku (this body loaned Qing government silver) and the Gang Shan Ku (similar to the Gong Ku, but its interest rate was lower) and En Shang (which award the interest earned on loans to Imperial relatives). In the second phase from the 56th year of the Kangxi reign until his death, Kangxi abolished the Gong Ku, and limited the scope of system of interest - bearing silver due to corrup tion.